FRIEDMAN INDUSTRIES INC (FRD) SEC Filings & Earnings Calls
EquiReason read 10 FRIEDMAN INDUSTRIES INC SEC filings in the last 12 months. Latest: 8-K on 2026-09-10 — Friedman Industries amended its credit agreement, increasing commitments from $140M to $200M to align with borrowing base growth..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 301.7M
- P/E TTM
- 10.9
- Dividend yield
- 0.4%
- 52-week
- —
- Next earnings
- 17 Nov, in 24 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
10 Sep 20268-K · 1.01, 2.03Friedman Industries amended its credit agreement, increasing commitments from $140M to $200M to align with borrowing base growth.open
Risks flagged
Increased debt capacity may lead to higher leverage if drawn.
“increase the aggregate commitments...from $140 million to $200 million”
6 Aug 202610-QFriedman Industries reported strong Q1 FY2027 results with revenue up ~78% YoY and adjusted gross profit margin expanding to 23.2% from 21.6%, driven by higher HRC prices and volume growth.earningsopen
Figures in the filing · each found in the filing text
| Adjusted gross profit · Q1-2027 | $56M | +92% y/y |
| Adjusted gross profit margin · Q1-2027 | 23.2% | |
| Sales volume from inventory (tons) · Q1-2027 | 188,500 | +33% y/y |
| Flat-roll segment sales · Flat-roll · Q1-2027 | $222M | +79% y/y |
| Flat-roll average selling price per ton · Flat-roll · Q1-2027 | $1262.00 | +36% y/y |
| Flat-roll segment earnings from operations · Flat-roll · Q1-2027 | $25M | +181% y/y |
| Tubular segment sales · Tubular · Q1-2027 | $18M | +70% y/y |
| Tubular segment tons sold · Tubular · Q1-2027 | 13,500 | +50% y/y |
| Tubular average selling price per ton · Tubular · Q1-2027 | $1341.00 | +11% y/y |
| Tubular segment earnings from operations · Tubular · Q1-2027 | $2M | +62% y/y |
Risks flagged
Supplier concentration
“The Company’s flat-roll segment purchases its inventory from a limited number of suppliers. Loss of any of these suppliers could have a material adverse effect on the Company’s business.” · word for word
Hedging losses
“The Company recognized hedging related losses of approximately $2.8 million in the 2026 quarter compared to hedging related gains of approximately $0.3 million in the 2025 quarter.” · word for word
6 Aug 20268-K · 2.02Friedman Industries reports Q1 FY2027 net earnings of $12.8M, sales of $240.0M (up 78% YoY), record sales volume, and strong operating cash flow of $7.3M.earningsopen
Figures in the filing · each found in the filing text
| Net Sales · Q1-2027 | $240M | +78% y/y |
| Net Earnings · Q1-2027 | $13M | +154% y/y |
| EBITDA · Q1-2027 | $19M | +135% y/y |
| Sales Volume · Q1-2027 | 206,000 | +28% y/y |
| Operating Cash Flow · Q1-2027 | $7M | |
| Diluted Earnings Per Share · Q1-2027 | $1.79 | +152% y/y |
Guidance
Q2 sales volumes comparable to Q1, sequential margin improvement expected
Company expects Q2 sales volumes comparable to record Q1 levels, with sequential margin improvement from higher average selling prices.
Risks flagged
Exposure to steel price volatility and economic hedging losses
“Gain (loss) on economic hedges of risk was ($2,756) thousand for the quarter, compared to $276 thousand gain in prior year.” · word for word
28 Jul 2026DEF 14AProxy statement for annual meeting; includes say-on-pay vote, director elections, auditor ratification, and a governance proposal to require 75% shareholder vote to amend bylaws.open
Figures in the filing · each found in the filing text
| Net Income · FY2026 | $20M | +221% y/y |
| Total Shareholder Return (TSR) · FY2026 | $156.88 | +20% y/y |
11 Jun 20268-K · 2.02Friedman Industries reports Q4 FY2026 net earnings of $9.2M, sales of $191.8M, record quarterly sales volume, and FY2026 net earnings of $19.5M on sales of $646.9M.earningsopen
Figures in the filing · each found in the filing text
| Net Sales · Q4-2026 | $192M | +48% y/y |
| Net Earnings · Q4-2026 | $9M | +73% y/y |
| EBITDA · Q4-2026 | $15M | +79% y/y |
| Sales Volume · Q4-2026 | 189,000 | +14% y/y |
| Diluted Earnings Per Share · Q4-2026 | $1.30 | +71% y/y |
| Annual Net Sales · FY2026 | $647M | +46% y/y |
| Annual Net Earnings · FY2026 | $20M | +221% y/y |
| Annual EBITDA · FY2026 | $34M | +147% y/y |
| Annual Sales Volume · FY2026 | 706,000 | +22% y/y |
| Annual Diluted Earnings Per Share · FY2026 | $2.76 | +217% y/y |
Risks flagged
Exposure to steel price volatility and economic hedging gains
“Gain on economic hedges of risk was $904 thousand for Q4 and $3,412 thousand for FY2026, compared to $1,765 thousand and $7,598 thousand in prior periods.”
9 Feb 20268-K · 2.02Q3 FY2026 net earnings $3.0M vs loss of $1.2M YoY; sales $168.0M (+79% YoY); sales volume +36% YoY; average selling prices improved; hedging gain $1.4M. Outlook: volumes consistent, margins improving.earningsopen
Figures in the filing · each found in the filing text
| Net Sales · Q3-2026 | $168M | +79% y/y |
| Diluted Earnings (Loss) Per Share · Q3-2026 | $0.43 | -353% y/y |
| Flat-Roll Segment Sales · Flat-roll · Q3-2026 | $153M | +78% y/y |
| Flat-Roll Sales Volume (tons) · Flat-roll · Q3-2026 | 149,500 | +42% y/y |
| Flat-Roll Average Selling Price per Ton · Flat-roll · Q3-2026 | $1016.00 | +25% y/y |
| Flat-Roll Earnings from Operations · Flat-roll · Q3-2026 | $7M | +462% y/y |
| Tubular Segment Sales · Tubular · Q3-2026 | $15M | +89% y/y |
| Tubular Sales Volume (tons) · Tubular · Q3-2026 | 12,500 | +56% y/y |
| Tubular Average Selling Price per Ton · Tubular · Q3-2026 | $1201.00 | +19% y/y |
| Tubular Earnings (Loss) from Operations · Tubular · Q3-2026 | $1M | -800% y/y |
Risks flagged
Commodity price volatility could impact margins; hedging mitigates but not eliminate risk.
“Hedging activities are intended to protect the value of our inventory and produce more consistent financial results over price cycles.”
Acquisition integration risk from Century acquisition.
“Century acquisition contributed approximately 11,000 tons to volume.”
9 Feb 202610-QFriedman Industries reported strong year-over-year revenue and profit growth for the nine months ended December 31, 2025, driven by higher sales volume and improved pricing.earningsopen
Figures in the filing · each found in the filing text
| Adjusted Gross Profit · Q3-2026 | $86M | +65% y/y |
| Flat-roll Segment Sales · flat-roll · Q3-2026 | $420M | +47% y/y |
| Tubular Segment Sales · tubular · Q3-2026 | $35M | +22% y/y |
| Flat-roll Segment Earnings from Operations · flat-roll · Q3-2026 | $22M | +230% y/y |
| Tubular Segment Earnings from Operations · tubular · Q3-2026 | $4M | |
| Sales Volume (Inventory) · Q3-2026 | 458,000 | +30% y/y |
| Average Selling Price per Ton (Flat-roll) · flat-roll · Q3-2026 | $970.00 | +12% y/y |
| Hedging Gains · Q3-2026 | $3M | -57% y/y |
| Working Capital · 2025-12-31 | $167M | |
| ABL Facility Balance · 2025-12-31 | $89M |
Risks flagged
Supplier Concentration
“The Company’s flat-roll segment purchases its inventory from a limited number of suppliers. Loss of any of these suppliers could have a material adverse effect on the Company’s business.” · word for word
Commodity Price Volatility
“Our operating results are significantly impacted by the market prices of the metals we purchase.” · word for word
10 Nov 20258-K · 2.02Q2 FY2026 sales $152.4M (+43% YoY), net earnings $2.2M vs loss $0.7M, record sales volume. Acquisition of Century Metals completed. Guidance: Q3 volume consistent, margins improving modestly.earningsopen
Figures in the filing · each found in the filing text
| Sales · Q2-2026 | $152M | +43% y/y |
| Flat-Roll Avg Selling Price per Ton · Flat-Roll · Q2-2026 | $963.00 | +12% y/y |
| Tubular Avg Selling Price per Ton · Tubular · Q2-2026 | $1185.00 | +15% y/y |
Guidance
Q3 FY2026 sales volume consistent with Q2 levels; margins expected to improve modestly QoQ driven by anticipated increases in metals pricing.
Guidance for Q3: volume consistent with Q2, margins improving modestly. Acquisition integration progressing well.
Risks flagged
Non-recurring acquisition expenses of $0.9M impacted results.
“The 2025 quarter results include non-recurring expenses of approximately $0.9 million related to the acquisition of Century Metals & Supplies.” · word for word
10 Nov 202510-QFriedman Industries reported strong H1 FY2026 results with revenue up ~30% YoY and adjusted gross margin expanding 270 bps, driven by higher steel demand and successful capacity utilization efforts.earningsopen
Figures in the filing · each found in the filing text
| Adjusted gross profit · H1-FY2026 | $55M | +51% y/y |
| Adjusted gross margin · H1-FY2026 | 19.3% | |
| Flat-roll segment sales volume (tons from inventory) · flat-roll products · H1-FY2026 | 280,000 | +26% y/y |
| Flat-roll segment average selling price per ton · flat-roll products · H1-FY2026 | $946.00 | +6% y/y |
| Tubular segment sales volume (tons) · tubular products · H1-FY2026 | 16,500 | -13% y/y |
| Tubular segment average selling price per ton · tubular products · H1-FY2026 | $1196.00 | +10% y/y |
| Hedging gains · H1-FY2026 | $1M | -80% y/y |
Guidance
Q3 FY2026 sales volume expected consistent with Q2; margins expected to improve modestly QoQ
Management expects Q3 sales volume flat sequentially, with modest margin improvement from anticipated metals pricing increases.
Risks flagged
Steel price volatility risk
“Our operating results are significantly impacted by the market prices of the metals we purchase.” · word for word
Supplier concentration risk
“The Company’s flat-roll segment purchases its inventory from a limited number of suppliers. Loss of any of these suppliers could have a material adverse effect on the Company’s business.” · word for word
FRIEDMAN INDUSTRIES INC — questions
- What did FRIEDMAN INDUSTRIES INC file recently?
- 10 SEC filings in the last 12 months. Latest: 8-K on 2026-09-10 — Friedman Industries amended its credit agreement, increasing commitments from $140M to $200M to align with borrowing base growth.
Every figure on this page comes from FRIEDMAN INDUSTRIES INC's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.